Operating highlights
- Good performance from retail networks, net revenue up 8.1%
- Romanian bill payment transactions grew 53.0% including contribution from new road tax contract
- Total retail network sites up, to 36,753 and Collect+ now over 5,800 going into Christmas peak
- Mobile and Online transactions up 11.3% to 70.3 million, with strong parking transaction growth
- New developments in areas including smart meters and advanced payments platforms
Financial highlights
- Record first half group transaction volumes at 373.4 million, up 6.1%
- Operating profits2 up 6.0%, lower than net revenue growth due to investments made in the first half
- Robust balance sheet with cash of £28.7 million
- Increase in interim dividend by 8.8% to 12.4p
Dominic Taylor, Chief Executive of PayPoint said:
"I am pleased to report continued growth in net revenue and operating profits in the first half of this financial year, demonstrating the quality of our businesses and our retail channels. Our Collect+ joint venture continues to grow and the combination of our Mobile and Online business, which we announced in March this year, is progressing satisfactorily.
Looking ahead, we expect our retail networks in the UK and Romania to continue to deliver profitable growth from our breadth of services and extensive client base. We will continue to invest in network expansion, innovative retail technology and new services to improve retail network quality further. We anticipate that this will enhance our competitive advantage and increase retail yield. The integration of our Mobile and Online businesses under the unified group brand and investment in product development is expected to unlock better growth opportunities for the group.
